The global chemoinformatics market revenue was around US$ 2.89 billion in 2022 and is estimated to reach US$ 10.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 15.6% during the forecast period from 2023 to 2031.
Chemoinformatics is a multidisciplinary field that combines computer science, chemistry, and information science to manage, store, and analyze chemical data. It is utilised in several applications, such as chemical safety, drug discovery, and environmental analysis.
Market Driving Factors
Testing hundreds of chemical compounds against medicinal targets quickly is made possible by high throughput screening. Combinatorial chemistry produces large compound libraries for high throughput screening. This generates large volumes of chemical data. In addition, chemoinformatics plays a necessary role in analyzing this data and determining hit compounds. For instance, machine learning models can indicate virtual compound properties to concentrate screening on compounds with desired features. Therefore, the surge in adoption of HTS and combinatorial chemistry boosts the market.
Emerging pharmaceutical markets in Latin America, Asia Pacific, and Middle East & Africa provide lucrative growth opportunities for chemoinformatics software providers. This is due to the surge in investments in biopharmaceutical research and profitable government policies are attracting firms to these markets. Furthermore, local firms are also growing adopting newer technologies. Thus, setting up partnerships and offering localized solutions tailored to market requirements can help strengthen existence in emerging markets.
Chemoinformatics software solutions need large investments in licensing, maintenance, hardware, integration, and training. Thus, this factor impedes the market growth.
Regional Analysis
North America dominated the market in terms of revenue. This can be attributed to the high emphasis on research and development (R&D) and the integration of advanced technologies. In addition, the increasing prevalence of chronic diseases and the existence of main players in the drug manufacturing sector played a substantial role in the region.
Furthermore, the increasing awareness among patients about healthcare services and the surge in demand for personalized medicine are predicted to boost the market. Moreover, this region boasts a strong position in the global pharmaceuticals industry and has a strong R&D existence. The region's cutting-edge IT infrastructure also supports its thriving biotechnology and pharmaceutical sectors. Therefore, this factor fuels market growth.
Asia Pacific dominates the market. Major multinational corporations are drawn to this region as research hubs because of the growth of several of its strong economies, including China, Singapore, and India. This is because of price-effective manufacturing and labor, coupled with profitable manufacturing conditions. Furthermore, the significant rise in research initiatives in the rapidly emerging economies in the region boosts the market.
Segmentation Insights
Application Insight
The chemical analysis segment dominates the market in terms of the largest revenue share. Ensuring precision and accuracy in chemical analysis is essential for generating dependable data for numerous chemoinformatics applications, including virtual screening and structure-activity relationship (SAR) modeling. Progress in spectrometry, chromatography, and spectroscopy has notably improved the effectiveness of chemical analysis. This segment plays an important role in strengthening drug discovery, development, and formulation processes and ensuring the effectiveness and safety of pharmaceutical products.
Drug discovery is expected to dominate the market. This is due to the increased investments in research and development (R&D) and the relatively lower success rate of potential leads evolving into feasible drug molecules. The field of chemoinformatics plays a crucial role in the creation of creative medicines due to its versatile tools used in different aspects of drug development.
Prominent Companies
Segmentation Outline
The global chemoinformatics market segmentation focuses on Application, End Use, and Region.
By Application
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CHEMOINFORMATICS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: CHEMOINFORMATICS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL CHEMOINFORMATICS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL CHEMOINFORMATICS MARKET, BY APPLICATION
5.1 OVERVIEW
5.2 CHEMICAL ANALYSIS
5.3 DRUG DISCOVERY
5.4 DRUG VALIDATION
5.5 OTHERS
6 GLOBAL CHEMOINFORMATICS MARKET, BY END USE
6.1 OVERVIEW
6.2 CHEMICAL & PHARMACEUTICAL COMPANIES
6.3 RESEARCH & ACADEMIC INSTITUTIONS
6.4 BIOTECHNOLOGY
7 GLOBAL CHEMOINFORMATICS MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL CHEMOINFORMATICS MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 ACD/LABS INC
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 AGILENT TECHNOLOGIES INC
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 BIO-RAD LABORATORIES INC
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 BIOVIA
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 CAMBRIDGESOFT CORP
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 CHEMAXON INC
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 MOLECULAR DISCOVERY LTD
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 SCHRÖDINGER LLC
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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